The Dow Jones Industrial Average and S&P 500 ended the week with a bang, closing at session highs and securing new records. Despite the upturn toward the end of the week, it was a pretty turbulent week for many corporations, and in turn, their shareholders.

No, I'm not talking Snap Inc. (SNAP) or Blue Apron Inc. (APRN) , though those companies have had their struggles. I'm talking about blue chips Goldman Sachs & Co. (GS) , Intel Corp. (INTC) and IBM Corp. (IBM) that have all underperformed the greater market upturn of the last nine months or so. C'mon guys, step it up.

General Electric (GE) was also on the ropes Friday. Beloved GE has been a "huge disappointment" for TheStreet's founder and Action Alerts PLUS portfolio manager Jim Cramer since he bought the stock for his charitable trust. He says, however, investors should give incoming CEO John Flannery a shot at turning things around.

For those of you interested in chatting with Jim about GE or any of his charitable trust holdings, you will have an opportunity next week as TheStreet hosts "Cocktails & Cramer," a monthly sit down with the host of CNBC's "Mad Money" at Bar San Miguel in Brooklyn, N.Y. More information on the event is below.

Anyway, back to the markets. Remarkably, the group of Dow underperformers does not include any retailers, as the sector had a relatively strong week that kicked off with upbeat guidance from Target Corp. (TGT) and ended with upgrades of Ulta Beauty Inc. (ULTA) , Walmart Stores Inc. (WMT) and Gap Inc. (GPS) .

Despite a run-up, TheStreet's technical analyst Bruce Kamich suggests that one of those names, Ulta Beauty, could be trading within a tight range in the coming weeks, so don't bet on a big rally there just yet.

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Photo of the day: Banking on higher profits

The big banks kicked off the second-quarter earnings season on Friday with Citigroup ( C) and Wells Fargo & Co. ( WFC) reporting above estimates. However, according to TheStreet's senior finance editor James Langford, there was a clear winner, none other than JPMorgan Chase & Co. ( JPM) . The 146-year-old financial institution posted higher profit than Wall Street expected as higher credit-card spending and investment banking fees combined to overpower sliding revenue from bond trading. On an earnings call, JPMorgan CEO Jamie Dimon had some pretty damning words for those enamored with the comings-and-goings on Capitol Hill. Read more to find out just what those comments were, however, I will tell you one thing: they are words that the late John Peirpont Morgan, known as an outspoken leader and brash businessman, would be proud of. Above Pierpont (center) is pictured with his son J.P. Jr. (right) and daughter Louisa in 1912 at the height of his wealth.

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